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PenCom to Register 21,000 Retirees on Online Enrollment Portal

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online enrollment portal

By Adedapo Adesanya

The National Pension Commission (PenCom) has disclosed that 21,000 prospective retirees would be registered soon on its newly developed online enrollment portal across the nation.

This was disclosed by the Commissioner, Technical, PenCom, Mr Anyim Nyerere, at a workshop organised by the commission for Pension Desk Officers (PDO’s) on Enrollment Application on Wednesday in Lagos.

Mr Nyerere said that 11,000 prospective retirees were due for the annual pre-retirement enrollment exercise in 2019/2020 while 10,000 prospective retirees were expected for the 2020/2021 fiscal year.

He explained that the 2019/2020 retirees-to-be were pending due to the inability of PenCom to conduct the physical annual pre-retirement enrolment exercise due to the global COVID-19 pandemic.

He noted that following the development, the agency had developed an online enrolment application with the capabilities to register, verify and enrol prospective retirees.

Mr Nyerere said that the application would provide the guidance note accordingly which would help to compute the retirees’ benefits.

“This nouveau application, which will be hosted on the commission’s website, will enable prospective retirees to log on to register with their details on the Retiree Registration Module (RRM).

“It is an established norm within PenCom to conduct physical annual retirement verification and enrolment exercise on the Federal Government of Nigeria employees of the Treasury Funded Ministries, Departments and Agencies (MDAs) scheduled for retirement within the next fiscal year.

“This exercise is aimed at validating and determining the retirees’ accrued pension liabilities for budgetary allocation by the federal government.

“PenCom regrets the inability to conduct this physical annual pre-retirement enrolment exercise due to the global COVID-19 pandemic.

“Therefore, the need to observe the necessary safety measures as directed by the government thus becomes inevitable.

“The PDOs and the public within the pension industry will appreciate the challenges in not conducting the physical pre-retirement enrolment exercise,” he said.

According to him, the desire of the commission is to ensure that the exercise is done so as not to affect the validation and determination of the accrued pension liabilities of the prospective retirees for government budgetary purposes.

Mr Nyerere noted that the MDAs would be required to upload the list of potential retirees who had not been enrolled before, including their full name and signature specimen of its authorised signatories, among others.

The commissioner stated that the workshop was to expose the PDOs to the online enrolment application procedures for the verification of the prospective retirees.

He said, “the PDOs will guide prospective retirees on how to complete the information on the application.

“The PDOs will equally ensure that the retirees’ information submitted by the MDAs are accurately completed in line with the online enrolment guidance notes.

“This workshop will help equip the PDOs with the requisite knowledge on how the retiree registration module operates for the smooth implementation of the online enrolment application.

“Necessary safeguards and modalities have equally been put in place for the exercise.

“We hope the PDOs will strictly comply with the provisions of the guidance notes on the enrolment for the conduct of the upcoming nationwide pre-retirement verification and enrolments exercise.”

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Finance Minister Suspends Ahmed Idris for Unhindered Investigation

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suspend Ahmed Idris

By Aduragbemi Omiyale

To allow for a “proper and unhindered investigation,” the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has suspended the embattled Accountant General of the Federation (AGF), Mr Ahmed Idris.

Mr Idris was asked to stay from office over his arrest by the Economic and Financial Crimes Commission (EFCC) on Monday for an alleged N80 billion fraud.

In a statement issued on Monday, the EFCC claimed that the AGF failed to honour invitations sent to him to explain what he knows about the matter, prompting his arrest.

According to the agency, Mr Idris committed the alleged act by taking “funds through bogus consultancies and other illegal activities using proxies, family members and close associates.”

“The funds were laundered through real estate investments in Kano and Abuja,” the statement further stated.

The arrest of the nation’s chief accountant has generated reactions from various quarters, prompting the Minister to suspend him on Wednesday.

In a letter confirming the suspension today, the Minister said the AGF is not expected to have any contact official in his office except for any disciplinary hearing that may be advised and will not receive any salary while on suspension.

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Osita Chidoka Leaves Guinea Insurance Board

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Osita Chidoka

By Dipo Olowookere

Former Minister of Aviation, Mr Osita Chidoka, has resigned from the board of Guinea Insurance Plc to concentrate on his private matters.

A statement signed by the company secretary, Ms Chinneye Nwankwo, disclosed that the politician, who was once the Corps Marshal and Chief Executive of the Federal Road Safety Corps (FRSC), served on the board as a non-executive.

During his time on the board, he contributed immensely to the growth of the underwriting company and the team appreciated him for this.

In the notice, Guinea Insurance wished the member of the opposition Peoples Democratic Party (PDP) well in his future endeavours.

“Guinea Insurance Plc wishes to inform the Nigerian Exchange Limited (NGX), its esteemed shareholders and the general public of the resignation of Mr Osita Chidoka from the board of directors of the company.

“The resignation of Mr Chidoka is to enable him more time to pursue his private business. The board recognized his immense contributions, selfless service and commitment to the progress of the company and wished him success in his future endeavours,” the disclosure stated.

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Goyal, Pule Join Advisory Board of Sabi

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Sabi B2B marketplace

By Modupe Gbadeyanka

The founder of Africa Lighthouse Capital, Bame Pule; and the Head of M&A at Udaan, India, Sapna Goyal have been appointed to the advisory board of Sabi, a leading B2B marketplace serving Africa’s informal economy.

The duo will work with the company and bolster its network and knowledge to help improve the infrastructure for informal business.

According to the co-founder/CEO of Sabi, Anu Adasolum, the two highly talented and strategic business leaders will bring fresh insights and perspectives to the board.

“Their expertise and track record in driving value will be critical for Sabi in our quest to serve the informal economy. We look forward to working together as we maintain our exceptional growth,” Adasolum stated.

Bame Pule established an independent Mauritius-based private equity firm founded in 2012 to invest in and nurture businesses into African champions.

The firm has a particular focus on helping investee companies adopt global best practices regardless of sector, attain benchmarks equivalent to those of global peers, and expand into multiple key African markets.

Prior to founding Africa Lighthouse Capital, Mr Pule worked at Actis Capital, ShoreView Capital, Goldman Sachs in New York, Credit Suisse in New York and Salomon Brothers/Citigroup in Los Angeles.

He pursued bachelor’s degrees in Economics and Political Science (double major) from Pomona College in Claremont, California and was awarded the Pomona Scholar prize for superior academic achievement in 1997 and 1999. Mr Pule also pursued a master’s in business administration (MBA) degree from Harvard Business School in Boston, Massachusetts.

On her part, Sapna has investing experience in early and growth stage internet start-ups in India. Before joining udaan, she worked with Goldman Sachs Investment Partners (GSIP) VC & Growth Equity Fund by being responsible for investments in the Indian internet space.

She also has investing experience in Indian Public Markets as part of a hedge fund at GS. She is passionate about the change internet can bring to India and how it is a great leveller. She is an active angel investor.

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